Hereâ€™s How We Can Avoid a Horrific Economic Future

We have to face up to our economic reality.
If we don’t bring the budget deficit beneath the nominal growth rate of GDP (which is unlikely to go above 4% in the near future), our debt will explode during recessions; and we will ultimately face a debt crisis.
Those never end well. The choices we will have at that point will be far fewer and even more stark.